Heartland lifts first-half profit, reiterates guidance

Tue, 18 Feb 2020

Heartland Group Holdings lifted first-half net profit 20.4 percent, although that was boosted by accounting changes and fair value gains and the underlying increase was closer to 7 percent. The company, which operates Heartland Bank in New Zealand and a reverse mortgage business in Australia, also increased its first-half dividend to 4.5 cents per share from 3.5 cents last year. Net profit for the six months ended December rose to $39.9 million from $33.1 million in the same six months a year earlier. The company reiterated its guidanc...

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